Markets
Farmers Insurance, Munich Re Make Home Technology Startup Investments
Farmers Insurance has become an equity investor in a fintech company focused on helping make a home rental easier and more affordable. Munich Re invested in a smart home startup whose electrical ...
American Financial Group Nets $3.5B Cash In Annuity Biz Sale to MassMutual
American Financial Group announced that it is selling its annuity business to Massachusetts Mutual Life Insurance Company in a $3.5 billion cash deal that primes the seller for growth in its ...
W.R. Berkley Reports Record Q4 Net Income
W.R. Berkley Corp. generated record net income in its 2020 fourth-quarter and a healthy combined ratio, results that company attributed to rate hikes, bigger investment returns and ongoing ...
A Canceled Olympics Would Slap Insurers With Historic Loss
Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six ...
Allstate Announces $2.8B Sale of Life Insurance Company
The Allstate Corporation announced on Tuesday that it has agreed to sell Allstate Life Insurance Company (ALIC) to entities managed by investment firm Blackstone for $2.8 billion. Explaining the move ...
Consumers Willing to Share Personal Data With Insurers Despite Data Security Concerns
If it means reduced premiums, consumers are willing to share their personal information with insurers but they question whether insurers can protect their data. The number of consumers willing to ...
Social Inflation Drives $400M Prior-Year Reserve Charge For Everest Re
Everest Re is the most recent insurance and reinsurance company to announce catastrophe and COVID losses in advance of fourth-quarter earnings, but Everest's disclosure on Monday also addressed a ...
The Latest Launches From Chubb and Branch Insurance
Chubb is marketing a new product designed to streamline absence management and workplace benefits for mid-size to large employers. Branch Insurance will link with ADT to offer ADT home security ...